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Pembroke Pines directs manager to negotiate with prospective buyer offering $90.25M for Pines Place Towers
Summary
After a prior buyer withdrew, the commission gave consensus for the city manager to negotiate with a new prospective buyer offering $90,250,000 for Pines Place Towers and asked staff for tenant protections and a 30-day return with a proposed agreement.
City staff told the Pembroke Pines City Commission on March 18 that the previously negotiated purchaser of Pines Place Towers, Hayden Glades, had rescinded its offer. A different company has since expressed interest and offered $90,250,000 for the senior-housing complex.
City Manager Charlie Dodge (staff) recommended the administration be authorized to negotiate with the prospective buyer and to return to the commission with a recommendation. "What I would recommend to you this evening is to allow me…
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